Historic 11 units building in Pittsburgh

[Jamie Dietz]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Most recent project is a 11 unit building in Bellevue, PA (Pittsburgh). This is an amazing historic icon property with significant potential to value add over time.

What made you interested in investing in this type of deal?

Upside in rents by forced appreciation. Rapidly improving neighborhood.

How did you find this deal and how did you negotiate it?

Found it from contacting the owner directly via personalized direct mail.

How did you finance this deal?

Traditional bank loan.

How did you add value to the deal?

Renovating one unit at time as tenants turn over. Significant increase rents over time.

What was the outcome?

Still working on it. 5 year hold.